Ducati Sporting Club UK > General > Idle Chat > any house rental experts??

[yeti]

Have got a draft tenants agreement of you need it. I rent one of my properties and, touch wood, haven't had any problems in last 4 years. That said I've just had the gas service done and I'll need a new boiler next year!! )-:

[bradders]

Originally Posted by yeti

Have got a draft tenants agreement of you need it. I rent one of my properties and, touch wood, haven't had any problems in last 4 years. That said I've just had the gas service done and I'll need a new boiler next year!! )-:

thanks mate, I'll keep that in mind...need to do some research now on insurance, tax, liabilty etc

[Ozz]

Originally Posted by bradders

thanks mate, I'll keep that in mind...need to do some research now on insurance, tax, liabilty etc

If you need any free tax advice pm me Bradders...

[Ray]

A mortgage on a let property usually attracts a higher rate of interest if you go that route.

The tax side can make yer eyes water as well.

A mate made £200,000 on a property on paper but just couldn't bring himself to sell it when he realised HMG were gonna trouser thick end of £80,000 of that £200,000

Plan B is now in operation needless to say.

It's not something to enter into lightly, your efforts might also bring IHT issues are well.

I'd deffo look carefully in to the tax side and how it may affect your particular circumstances.

Ray.

[Ozz]

Trick with CGT is to have lived in it for a while! That way you get the last 3 years of ownership treated as if you reside there and therefore tax free....

[CK]

Bradders, over this last summer I worked for a national chain of letting agents - in the 'customer care' - this meant for snagging/extending leases/evictions/inspections/inventories/GSC's/damages etc etc.

Well - all I can tell you is that it opened my eyes big time

C, not an expert BUT now knowing what to try & avoid!

[MJS]

See the thread I've just posted about bailifs etc., I know of several people who have been left with a string of debt collectors, bailiffs etc. chasing ex-tenants for money they'll never get back.

Some tenants use rental properties purely for having an address from which to run up big debts - I have a friend who evicted tenants 6 months ago, but the new occupier is still regularly receiving mail/visits for the previous tenant, who it seems has run up huge debts...

Martin